S&P 500 Rises on Tech Strength as Tariff Relief Boosts Sentiment

U.S. equities closed mixed Wednesday, with technology stocks leading gains amid easing U.S.-China trade tensions. The S&P 500 edged up 0.1% while the Nasdaq Composite climbed 0.57%, extending its weekly advance to over 6%. The Dow Jones Industrial Average bucked the trend, slipping 0.21%.

Semiconductor stocks outperformed after Nvidia announced an 18,000-unit AI chip shipment to Saudi Arabia, sending shares up 3%. AMD rallied 4% following approval of a $6 billion share repurchase program. Market Optimism followed weekend tariff reductions between Washington and Beijing, with U.S. duties on Chinese goods falling to 30% and Chinese levies on American imports dropping to 10%.

The tech-heavy Nasdaq’s outperformance highlights investor preference for growth assets amid improving trade conditions. Sector rotation into semiconductors suggests confidence in AI infrastructure demand despite macroeconomic crosscurrents.